UK Tax Legislation

Benefits in Kind
Non-cash benefits provided to employees from employment, which are subject to UK tax regulations, often reported on form P11D.
Income Tax
A direct tax on an individual’s income, generally levied at progressive rates, with income classified under various headings as per UK tax legislation.
Schedule
The term 'schedule' can have several different meanings within the context of accounting, tax legislation, and planning. In the UK, it is used extensively in tax legislation and accounting practices.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.